According to Yonhap News,
The city of Busan said on Jan 4 that the city authority raised KRW3.5 billion funds, designed to attract investments in local communities, and channeled the money to NF Co., Ltd, an oxygen generator maker. The funds were formed to subsidize investors who make investments in local communities, as part of incentive programs to help promote balanced development nationwide.
NF Co., Ltd, headquartered in Gijang-gun in Busan city has long known as one of small but strong local hidden champions. They’ve recently unveiled an investment plan to build out manufacturing plant, adding 85 new employees to work with.
The city government is set to offer more incentives, an extensive reward program for potential investors, particularly those undergoing restructuring to make investments in emerging business.
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Source: Yonhap News (Jan 4, 2021)
** This article was translated from Korean.